Sometimes the most effective method to trim your expenses is to go big — to attempt something astonishing, a little outlandish, and maybe even a touch extreme.
What if you spent an entire month without purchasinganything? What if you wore the same outfit every single day for a full year? What if every meal you prepared cost under $5?
These scenarios are real. They’re examples of how everyday folks have dramatically reduced their spending. Once you read what these people did to cut costs, you might feel motivated to begin your own audacious savings experiment.
Geoff and Julie Attempted a Year of No Buying
Geoff Szuszkiewicz and Julie Phillips were roommates in Calgary, Alberta. On Aug. 3, 2013, they launched a bold mission: to not buy anything for a year. They organized their Buy Nothing Year in three stages:
- August to November: No purchases of household items or consumer goods
- November to July: No buying household or consumer goods, and no purchasing services (dining out, haircuts, taxis, etc.)
- July to August: No buying anything — no spending at all.
Geoff and Julie told Forbes in August 2014 that between them they saved more than $55,000 over their Buy Nothing Year.
Interested in trying something similar? Julie advised readers to start small: “People ask Geoff and I all the time how to begin, and we always say, start with a week of no spending, or a month.”
Once you begin, it becomes easier to identify what’s truly necessary. Even if a full Buy Nothing Year feels too intense, deliberately buying less — or attempting a Buy Nothing Month — can yield considerable savings.
Trent Whips Up His Own Laundry Soap
If you’re seeking surprising ways to save, you’ll find plenty of ideas at The Simple Dollar. Trent Hamm has written about practical money-saving approaches since 2006 — and some of his cost-cutting tactics, like creating homemade laundry detergent, are delightfully experimental.
Trent champions a do-it-yourself approach, and he breaks down the savings you can expect from mixing up a big batch of detergent instead of purchasing store-bought products:
For comparison’s sake, a jumbo container of Tide at Amazon.com costs $28.99 for 96 loads, or a cost of $0.30 a load. Thus, with each load of this stuff, I’m saving more than a quarter. Even better —I got to make a giant bucket of slime in the kitchen and my wife approved of it.
If you enjoy thrifty hacks and a little kitchen chemistry, take a look at Trent’s homemade laundry soap recipe. Saving roughly $0.25 per load adds up — and when it comes to laundry, every cent counts.
Kristy Wore One Dress for a Year
Kristy Powell didn’t begin her One Dress Protest purely to save money; she intended it as a spending fast and a break from the fashion industry. From Jan. 3, 2011 to Jan. 3, 2012 (from age 26 to 27), Kristy chose to wear a single dress every day.
Toward the end of her year she reflected:
When I removed all the clothing and fashion consumption from my life at the start of the year, I found myself with lots of empty space and a void to fill. I actually remember thinking, What are you going to do on the weekend if you can’t shop? I’m actually embarrassed to share that with you at this point. But it is totally relevant, and the truth. The void, superficial or not, felt enormous.
You can attempt a similar spending fast. If wearing the same dress daily is too extreme, try narrowing your wardrobe to 10 favorite ensembles.
Or choose another area to challenge your spending: borrow books and DVDs from the library instead of buying, or use public transit rather than driving.
Erin Keeps Dinner Costs Under $5
Erin Chase is known as the $5 Dinner Mom. She prepares meals that cost less than $5 each — and she feeds the whole family on that budget.
Explore Erin’s ideas and recipes at $5 Dinners. Then consider how much you currently spend on food. Would limiting yourself to under $15 a day for three meals appeal to you?
Try a few of her recipes, like Pizza Grilled Cheese or Slow Cooker Apricot Chicken. See if incorporating some $5 dinners into your routine could lower your grocery and dining expenses.
Will You Take on a Comparable Challenge?
The beauty of these experiments is that you can achieve similar benefits without adopting extreme measures.
Don’t feel compelled to cook $5 dinners nightly — try making them three times a week. Don’t want to wear the same dress every day? Commit to not buying new clothing for six months and wear what’s already in your closet.
You might be surprised at how much you can conserve.
Your Turn: Have you attempted a similar spending or saving challenge? How did it go?
Nicole Adams is a freelance writer who covers personal finance and life experiments. Her work has appeared in various online outlets and blogs.
For more ideas and shorter-term commitments, explore money saving challenges or consider a frugal living challenge to get started.
